West African Exploration
B2Gold in West Africa
Bui
2016 Exploration Objectives
• Priorities to follow up on recent
discoveries by Fekola and Kiaka
regional programs include:
• Defining the limits of Toega
mineralization and exploration of
immediate area for additional
prospects
• Completing metallurgical study of
Toega mineralization
• Drilling of saprolite zone at
Anaconda-Adder to 40m centres to
enable resource evaluation
• Completing metallurgical study of
Anaconda-Adder mineralization
• Explore Anaconda-Adder for
bedrock-hosted gold
Country
2016 Budget
Mali
$ 11.38 million
Burkina Faso
$ 5.56 million
Ghana
$ 0.37 million
TOTAL
$ 17.31 million
Fekola, Mali
Fekola Regional Geology
• Fekola deposit is hosted
within Proterozoic KedougouKenieba Inlier (“KKI”) of the
Birimian Supergroup (22002050 Ma) of West African
Craton
• KKI is an erosional window
through the younger (600-350
Ma) sediments of the
Taoudeni Basin
• Occurs along Senegal-Mali
shear zone, having a gold
endowment >40M ozs
Fekola Permits
• Medinandi: 75km2 Exploitation
License. Host to Fekola
Deposit
• Menankoto South: 52 km2
Exploration permit
approximately 13 km to the
north of Fekola
• Bantako East: 57 km2
Exploration permit
approximately 10 km to the
northeast of Fekola
• Sanoukou Ouest: B2Gold
option agreement (active, early
stage).
•
•
•
The main Fekola
deposit is hosted by
thinly bedded
siltstone-mudstone,
with interlayered
sandstone and
conglomerate‐breccia
Host stratigraphy is
170 to 250m thick in
the deposit area.
Minor mafic and felsic
dikes and sills are
present.
Host rocks are tightly
folded and cut by an
anastomosing
network of ductile
shear zones.
• The shallowly north
plunging high grade
shoots of the Fekola
deposit (magenta)
correspond to the
localization of fold
hinge zones and
coincident, intense
shear zone interaction
• Mylonitic shear zones
are focused on the
eastern side of the
host stratigraphy in
the west dipping
Fekola Shear Zone
Fekola Alteration/Mineralization
• Au associated with very fine grained, disseminated pyrite and pyrite veinlets
• Mineralization accompanied by intense, texturally destructive carbonate alteration (dol), which may overprint earlier ak+alb+qtz+ser alteration.
• The total sulphide in mineralized zones is typically less than 5%. Representative sample suite illustrating a profile across the main mineralized zone in drill hole FKD‐055 (3.81 g/t Au over 108 m, from 170‐278m).
Fekola: Upside Potential
•
•
•
•
Fekola mineralization extends approximately1.5 km along strike, by 250 m wide by 400 m deep (vertical).
A higher‐grade shoot has been identified in drill core that plunges approximately 13° to the NNW and extends over 1,500 m down plunge, similar to plunge of folded stratigraphy.
Recent drilling (2015) in the Fekola Deeps area has confirmed the down plunge continuity of mineralization up to 700 metres beyond the limits of the feasibility pit boundary.
The deposit remains open along strike to the north and down plunge
FEKOLA: Open along strike –
Kiwi Zone
Kiwi Zone
• approximately 640 metres north of the
proposed pit limits of the Fekola
Deposit.
• Kiwi occurs approximately 400 metres
up dip from the Fekola Deeps zone in
what appears to be a separate and
distinct zone of mineralized folds.
• Highlights from the Kiwi Zone include:
HoleID
From
To
Metres
Gold_gpt
FKD_187
189.85
198.00
8.15
1.95
FKD_188
240.10
244.70
4.60
11.80
and
278.35
285.00
6.65
4.53
FEKOLA: Open along
strike – Weaver Zone
Weaver Zone
• approximately 2.5 kilometres north of
the Fekola pit
• Stratigraphy and the shear zone
controlling gold mineralization at
Fekola may persist along strike
through Weaver
• Hole FKD_189 intersected:
HoleID
FKD_189
From
To
Metres
Gold_gpt
135.10
150.60
15.50
8.49
Anaconda‐Adder Saprolite Au
Anaconda-Adder
•
•
•
Significant zone of saprolitehosted gold mineralization
across two contiguous target
areas known as Anaconda
and Adder
Footprint of the combined
Anaconda-Adder saprolite
zone extends over 4.5
kilometres of strike and up to
500 metres wide at
Anaconda and up to 200
metres wide at Adder.
Additional upside being
tested in satellite zones:
Mamba, Boomslang and
Cobra
Anaconda-Adder: recent
highlights
20m‐spaced infill
40m‐spaced definition
Hole ID
From (m)
To (m)
Length (m)
Gold (g/t)
MSR_101
MSR_103
MSR_144
MSR_145
MSR_146
MSR_147
MSR_148
MSR_150
MSR_151
MSR_153
MSR_155
MSR_156
MSR_157
MSR_159
MSR_162
MSR_169
MSR_171
MSR_175
MSR_177
MSR_178
MSR_179
MSR_180
MSR_181
MSR_183
MSR_185
MSR_203
MSR_204
MSR_210
MSR_217
0
2
1
3
2
24
17
0
1
0
0
5
7
9
4
32
0
12
0
1
3
8
1
5
5
16
2
14
17
60
48
45
44
43
48
34
38
41
24
49
43
36
26
41
45
33
27
40
56
41
54
56
50
54
30
32
34
35
60
46
44
41
41
24
17
38
40
24
49
38
29
17
37
13
33
15
40
55
38
46
55
45
49
14
30
20
18
3.23
1.75
1.81
1.97
2.16
2.63
2.37
3.72
1.49
3.17
1.20
1.59
1.33
1.87
3.44
2.68
1.79
2.46
1.07
1.71
1.59
1.23
1.01
1.29
1.18
3.19
1.08
1.52
1.87
Hole ID
MSAC_0710
MSAC_0716
MSAC_0748
MSAC_0750
MSAC_0771
MSAC_0779
MSAC_0783
MSAC_0788
MSAC_0792
MSAC_0850
MSAC_0852
MSAC_0853
MSAC_0854
MSAC_0855
MSAC_0881
MSAC_0945
MSAC_0947
MSAC_0949
MSAC_0989
MSAC_1011
MSAC_1148
MSAC_1178
MSAC_1180
MSAC_1181
MSAC_1201
MSR_112
MSR_121
MSR_132
MSD_011
MSD_015
MSD_016
MSD_019
MSD_024
From (m)
6
21
23
3
12
17
9
1
0
41
0
18
0
13
0
18
7
2
28
18
23
13
2
13
10
64
113
15
33.5
5
7.6
3.5
10.4
To (m)
29
27
50
36
19
44
31
31
14
70
40
46
56
50
22
42
20
23
39
32
39
30
39
46
42
92
133
42
50
40.5
29.4
27.7
38.9
Length (m)
23
6
27
33
7
27
22
30
14
29
40
28
56
37
22
24
13
21
11
14
16
17
37
33
32
28
20
27
16.5
35.5
21.8
24.2
28.5
Gold (g/t)
1.32
9.7
2.45
2.54
7.91
1.49
1.82
1.16
2.59
1.39
1.11
1.02
1.02
0.81
2.20
1.55
1.95
1.35
2.26
2.38
2.75
5.82
2.41
6.25
1.68
1.17
1.31
1.18
2.71
2.03
2.22
2.41
1.31
Anaconda-Adder
•
•
•
Including the satellite
targets, 55,800 metres of
combined aircore, reverse
circulation and diamond
drilling have been
completed in 2016.
Mineralization remains
open along strike
Approximately 1200kg of
material have been
shipped to SGS Lakefield
for metallurgical study
Aircore rig drilling Anaconda saprolite zone, October 2015
Anaconda Vertical Section
•
•
Saprolite
occurs in flatlying horizons
ranging from
several metres,
to over 40
metres thick.
Saprolite zones
show possible
link to bedrockhosted
structures
Highlights from recent drilling intersecting bedrock‐hosted, Au‐bearing structures (right)
Hole ID
MSR_132
and
MSD_007
Incl.
MSD_009
MSR_169*
Incl.
MSR_171*
MSR_173*
MSR_217*
From (m)
42.00
142.00
16.00
28.70
105.00
32.00
37.00
45.00
27.00
35.00
To (m)
63.00
164.00
35.80
35.80
118.00
45.00
45.00
56.00
42.00
46.00
Length (m)
21.00
22.00
19.80
7.10
13.00
13.00
8.00
11.00
15.00
11.00
Gold (g/t)
6.84
1.19
1.65
3.65
1.53
2.77
4.26
1.56
4.37
1.69
Kiaka, Burkina Faso
Kiaka: B2Gold’s flagship in
Burkina Faso
• The Kiaka project is
located in southcentral
Burkina Faso,
approximately 140
kilometres southeast of
the capital
Ouagadougou.
• Kiaka is one of the
largest undeveloped gold
resources in West Africa
• 81% B2Gold, 9% GAMS
Mining and 10% Govt. of
Burkina Faso
Kiaka: Mineralization
• Gold hosted by tightly folded
mafic volcanic flows, epiclastic
sediments and possible primary
pyroclastic flows.
• Gold mineralization exhibits both
disseminated and vein-related
characteristics.
• Gold is spatially associated with
fine grained, disseminated
pyrrhotite, lesser pyrite and trace
chalcopyrite and arsenopyrite
• Total sulphide approximately 23% in mineralized zones.
• alteration assemblage includes
chlorite, sericite, biotite, and
quartz.
Visible gold (red arrows) within chlorite-biotite-pyrrhotite rich
selvage to centimetre-scale quartz vein in volcaniclastic
sediment. KDH351, 382 metres
Kiaka geological section
Kiaka Deposit: Plan view with
Kiaka South Zone
• 1,640 drillholes.
• Totaling >240,000
metres of diamond
and reverse
circulation drilling.
• Metallurgial testing
indicates Au
recoveries between
85.8% and 95.4%
* See Appendix
Tonnes (Mt)
Au (g/t)
Ounces*
Measured
27.3
1.09
953,000
Indicated
96.8
0.96
2,900,000
M+I
124.1
0.99
3,853,000
Inferred
27.3
0.93
815,000
Toega Prospect, Burkina Faso
Toega Prospect, Burkina Faso
•
•
•
•
Toega discovered in 2015 as
part of the Kiaka exploration
program
Recon drilling adjacent to
artisanal small miner workings
discover additional bedrockhosted Au mineralization
In 2016, a total of 10,423
metres of combined RC and
DD has been completed
Highlights from recent drilling
at Toega include:
Hole ID
NKRC088
NKDD014
Incl.
NKRC099
NKRC101
NKDD015
Incl.
NKDD016
NKDD017
Incl.
and
NKDD013
Incl.
and
NKRC102
Incl.
NKRC105
and
NKRD020
From (m)
134.00
94.00
133.05
93.00
141.00
220.00
220.00
85.00
74.00
85.00
128.40
99.00
143.90
185.00
126.00
138.00
180.00
207.00
60.00
To (m)
153.00
178.00
177.00
111.00
160.00
277.10
262.00
99.00
205.00
97.00
178.00
161.00
161.00
244.00
177.00
165.00
201.00
217.00
185.00
Length (m)
19.00
84.00
43.95
18.00
19.00
57.10
42.00
14.00
131.00
12.00
49.60
62.00
17.10
59.00
51.00
27.00
21.00
10.00
125.00
Gold (g/t)
5.47
3.09
4.96
6.56
1.87
1.73
2.18
2.26
1.61
3.97
2.42
1.66
3.53
2.80
1.90
3.02
1.08
3.40
1.66
Follow up drilling is currently underway at
Toega
Toega
•
•
The current footprint of
known mineralization at
Toega is approximately
750 metres long, by up
to 300 metres wide, with
intersections as deep as
250 metres below
surface
Mineralization remains
open down dip and down
plunge at Toega (red
arrows, right)
Toega: Upside to recent success
62m @ 1.66 g/t Au
59m @ 2.88 g/t Au
29m @ 1.43 g/t Au
84m @ 3.09 g/t Au
• Recent drilling exceeds expectations of targeting model
• NKDD013 and 014 show potential for additional mineralization down dip
from known mineralization
• Approximately 3000m of additional drilling planned (underway) for 2016
•
•
•
•
Gold mineralization is hosted by
easterly dipping felsic volcanic
and fine grained sedimentary
rocks, exhibiting shallowly
northeast plunging folds.
Mineralized intervals in excess of
100 metres of core length are
localized in a plunging, high
grade “keel” to the mineralization,
that may be related to folding.
Mineralized zones are
characterized by disseminated
pyrrhotite and pyrite and locally,
by fine visible gold, in association
with quartz veining.
Approximately 1350kg of material
shipped to SGS Lakefield for
recovery and comminution
testing
VG in qtz vn
Conclusions
•
•
•
•
•
•
•
At both Anaconda and Adder, drilling has been completed on 40 metre by
40 metre spaced centres and locally, infilled to 20 metre centres to test the
short range variability of mineralization.
Recent results are indicative of both the robust continuity of mineralization
within centre of the Anaconda and Adder target areas, and of the potential
to expand the known footprint of the saprolite zone.
Zones of bedrock-hosted Au mineralization have been found underlying
saprolite zones
At Toega, recent drilling has increased the extents of known mineralization
Toega mineralization remains open down plunge and down dip
Metallurgical studies are currently underway for Anaconda-Adder and for
Toega
Follow up drilling is currently underway in both Mali and Burkina Faso
Appendix
•
•
Kiaka Deposit: The mineral resource estimate for the Kiaka project was prepared as of January 8, 2013 by Ben Parsons, MSc, MAusIMM (CP), principal consultant for SRK Consulting (UK) Limited, a Qualified Person as defined under NI 43‐101. The estimate reflects the attributable mineral resources based on B2Gold Corp’s 81% interest in the Kiaka project. Mineral resources are estimated using best practices as defined by the CIM and reporting of mineral resources is compliant and in accordance with the disclosure requirements of NI 43‐101. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Due to the uncertainty that may be attached to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration. Mineral resource numbers have been rounded to reflect the accuracy of the estimate and numbers may not add due to rounding.
B2Gold’s Quality Assurance/Quality Control: The primary laboratory for Fekola is SGS Laboratories in Bamako, Mali, where samples are prepared and analysed using 50g fire assay with atomic absorption finish and/or gravimetric finish. Bureau Veritas,
Abidjan, Cote d'Ivoire is the umpire laboratory. The primary laboratory for Kiaka Regional Exploration is ALS Minerals Laboratories in Ouagadougou, Burkina Faso, where samples are prepared and analysed using 50g fire assay with atomic absorption finish and/or gravimetric finish. Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the core, reverse circulation and aircore drilling sample strings. The results of the control samples are evaluated on a regular basis with batches re‐analysed and/or resubmitted as needed. All results stated in this announcement have passed B2Gold's quality assurance and quality control ("QA/QC") protocols. Tom Garagan, Senior Vice President Exploration, is the Qualified Person as defined under National Instrument 43‐101, who has reviewed and approved the contents of this document.